HiFX: Foreign Exchange Specialists

• Headlines

July 1, 2008

According to the nation’s supply executives, economic activity in the manufacturing sector expanded in June for the first time since January 2008.  The Institute for Supply Management’s factory index rose to 50.2 from 49.6 in May, indicating that this sector is in a period of expansion.   Economists believe that demand from overseas for U.S. made products helped keep factories running along with federal tax rebates helping boost consumer spending.  Following the data the U.S. dollar jumped up nearly 0.3% against a trade weighted index of currencies but fell short of holding on to it’s gains.